Episode 2: Moving from cost of service to value of service - What Clients really want and value.
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Show Notes
In episode two, LOPSided Podcast host John O'Donoghue is joined by Georgina Thorpe (Head of Pricing at Herbert Smith Freehills) to discuss all things pricing and value.
The podcast covers key topics including:
- What do Clients really see as value from law firms?
- The different approaches to panel pricing and matter pricing.
- The growing maturity in Clients understanding of commercial pricing structures.
- The value derived from Clients being able to directly converse with pricing consultants at law firms.
- The evolution of pricing professional roles in BigLaw to commercial consultants for law firms.
- How much firms are leveraging their own data to inform pricing decisions and understand cost of services.
- The power of options - providing value to clients through optionality.
- Whether clients are actually opting for Alternative Fee Arrangements or just reverting back to discounted rates.
- Three pieces of advice for anybody looking to their tender stands out from competitors.
- MythBusters - we challenge the validity of commonly held opinions within the industry.
IMPORTANT NOTE: The views and furthermore all views shared by the presenters and guests of this podcast in no way reflect the views of current nor previous companies that employ them. All views and expressions reflect personal views and not those of any affiliated businesses.
Listeners should consider these discussions as personal perspectives and not official stances endorsed by any organisation. Always seek professional advice and verify information independently.